Published on November 1, 2017
China based private firm Hengyi Group has started a trading office in Singapore to buy crude and trade oil products from its $3.4 billion Brunei project, company officials said on Monday.
The office will also handle third-party trading. The refinery-petrochemical project of Brunei will be mechanically completed by the end of 2018 and start operations in the first quarter of 2019, Zhang said.
The project, at Brunei's Pulau Maura Besar island, includes a 175,000 barrels per day refinery that will produce gasoline, diesel and jet fuel. The complex also houses an aromatics plant to produce 1.5 million tones per year (tpy) of paraxylene (PX) and 400,000 tpy of benzene.
Further an MOU has been signed between Hengyi and Brunei’s Economic development board to expand the project in a second phase.
The expansion includes a 14 million tpy (281,150 barrels per day) refinery and units to produce 1.5 million tpy of ethylene and 2 million tpy of PX, the company said last month.
